Payment and offsetting
Once your commission invoice is approved, payment is scheduled and made to your IBAN. If there is a negative balance in your current account at the time of payment, it is offset against the payment; if the net amount to be paid is below the minimum payment amount, the payment carries over to the next period.
- The Owner, Administrator, and Accounting roles.
What is payment and offsetting?
Once your commission invoice is approved, payment is scheduled and made to your IBAN. Who can do this: The Owner, Administrator, and Accounting roles. The payment is made to your IBAN; your current account shows the payment and any offset. If there is a negative balance in your current account at the time of payment, it is offset against the payment; if the net amount to be paid is below the minimum payment amount, the payment carries over to the next period.
Steps
When your invoice is approved, Commission invoice in the Scheduled payment date.
On payment day, your scheduled payments are paid together and a Payment row is recorded in your current account.
If there is a pre-existing negative balance, it is deducted from the payment amount; the offset amount is shown in the payment row's description.